Top 10 health insurance companies in India in 2020

If you are planning to buy health insurance, most people first find out which health insurance company gives them the best offers. These plans include many options like doctor consultation, hospitalization, surgery, medications, care allowances, and room rentals. You can realize the importance of health insurance in a small accident. Do you have the right? If you have a health insurance policy, you can easily bear your health expenses. But finding a reputable Top 10 health insurance companies in India is a must so that one can get the best health care.

If you are diagnosed with an illness, a health insurance company will protect you from the financial burden. You can ask for a health insurance claim according to your bills and get a refund, which depends upon your health insurance plan. Health insurance is essential in India. With increasing hospitalizations and rising medical costs, it has become a problem for middle-class people.

Health insurance provides the cushions you need very much and helps you manage your finances in times of crisis. On the other hand, a lot of people find it hard to agree with the right health insurance provider in India due to a large number of competitors in this sector. After reviewing the features and benefits, you can choose these health insurance companies based on your needs.

 Things to consider to buy Health insurance

Therefore, when you want health insurance, the first thing that you must know is which company is best for health insurance. To find out the best, the best way is to make a list of the top 10 health insurance companies. You can make this list using search Engines or can ask your friends who already have a health insurance policy. Once you make a list, find out the plan of each company. Then shortlist companies which offer the best plan according to your requirement. IN this way, you can find out the best health insurance company.

Top 10 health insurance companies in India List

1. Apollo Munich Health Insurance Company Limited

Top 10 health insurance companies in India

Apollo Munich Health Insurance is a joint business enterprise between HDFC Limited and ERGO International AG. Cashless service branches of multiple specialized hospitals nationwide. 98% record of successful claim resolution. Claims are processed by the company’s professional physician. Recovery of the total amount at no additional cost or charge if the insured is diagnosed with another illness.

Apart from these benefits, Apollo Munich Health Insurance also offers complete coverage to the rider to make it more creative and proficient. The company offers complete health coverage to its customers so that they can wipe out all their health-related anxieties and complexities. The company is appraised with a number of awards for providing the best health insurance plans.  

2. Star Health Company Limited

Top 10 health insurance companies in India

 Launched in 2006, Star Health is India’s first independent health insurance provider. The company offers excellent services that provide innovative products that are useful to individuals, families, and businesses. Star Health offers excellent services for personal accidents and overseas travel insurance. It is mainly involved in insurance banking and has set up a relationship with a number of Indian banks. The loss ratio of insurance companies is 63%.

Currently, the company employs more than 11,000 people and has more than 550 branches nationwide. As an award-winning Indian health insurance company, Star Health Insurance offers many benefits. Over 8000 hospitals are in the network of the company, and 60.51% of bills incurred between 2016 and 2017

Instant access to cashless admissions and reimbursement facilities at over 8,000 network hospitals. Star Health also covers anesthesiologists, room rentals, nursing, internships, surgery, doctors, consultants, specialists, dialysis, x-rays, diagnostic materials, drugs, drugs, and more.

3. Max Bupa Health Insurance Company Limited

Top 10 health insurance companies in India

 The company has smart charging options to increase your coverage. The Max Bupa network has 4,000 hospitals with cashless treatment available. Max Bupa has a loss margin of 54%. Compensation for all daycare treatments is an offer by the company.

The Max Bupa Health Insurance Company Limited offers a variety of health insurance plans in three main types of categories to their customers: individuals insurance, whole family member insurance, and fixed health care benefits. The benefits of Max Bupa Health Insurance are:

  • Direct settlement of complaints
  • Before hospitalization: Usually 30 days
  • Post-hospital costs: Usually 60 days

4. ICICI Lombard General Insurance Company Limited

The company is linked with ICICI Bank Limited and Fairfax Financial Holdings Limited. Business ventures of these companies offer the insurance plan to their customers. Insurance companies offer a strong portfolio of products, including health insurance, car insurance, travel insurance, and home insurance.

ICICI Insurance protects you from unexpected events in your life. As a result, protection solutions are available for business, individual, and project responsibilities in rural and urban areas across the country.

5. Religare Health Insurance Company Limited

Religare Health Insurance Company Limited is a specialized health insurance company that offers health insurance services to workers of the orate world and individual customers. The company offers products such as medical insurance, serious illness, personal accidents, overseas travel insurance, corporate group medical insurance, and group individual accident insurance. The company has grown tremendously, with an insured ratio of 55%.

6. Cigna TTK Health Insurance Company Limited

The company focuses on improving health, well-being, and peace of mind. Cigna TTK Health Insurance Company Limited makes healthcare more reasonably priced that provides quality, cost-effective care.

7. Bajaj Allianz General Insurance Company Limited

Introducing Health-Guard, Silver Health, and Star Package, the company became the first company to offer TPA services with additional benefits. The company offers cashless billing payment services at more than 6,500 hospitals. With an 85% billing rate, we will resolve your bill within an hour without cash.

8. New Indian Guarantee Company

New India Assurance Company Limited is a multinational comprehensive insurance company owned by the Government of India. It provides unique functionality for health insurance policies and is famous for its health insurance policies. Insurance companies operate in 28 countries and also handle businesses other than life insurance. There are more than 1,200 cashless hospitals, and the insured rate is 95.39%.

9. Oriental Insurance Company Limited

A government-owned comprehensive insurance company that provides health insurance products in India. Those who are over the age of 60 do not require the medical examination as per company policy. The Oriental Insurance Company is affiliated with more than 4,300 network hospitals that offer cashless treatment. The loss ratio of the company is 108.80%.

10. National Insurance Company Limited

 National Insurance Company is a government agency that has been in business for over 100 years. After completing your claim for four years, you will receive a free health checkup benefit of up to 1% of your claim. The loss rate of national insurance is 109.94%, which covers the loss of other insurance products.

Which insurance company is good?

  • It must be financially sound. A health insurance company in a poor financial condition may not have the resources to pay for your claim. If you are considering a lesser-known provider, specialists recommend checking the ratings of at least health insurance companies before saying yes. 
  • The number of complaints from the customers must be less. Your state department of insurance website should offer a report that provides the number of substantiated complaints received by insurance companies. This report usually offers a “complaint rate” that evaluates the number of justified complaints to the size of the company’s business in the state. Look for a company with a relatively low complaint rate. 
  • The company must offer options so that clients can easily contact the executive for help. You desire to have an insurance company with which you can talk about any circumstance. If you have to wait a long time or have other difficulties when selecting a health insurance company, it is very likely that you will have similar or even worse problems as a client. Select a health insurance company that you can easily contact and are pleasant to deal with.
  • It is licensed to operate in your state. Limit yourself to deal with health insurance companies that are approved to sell health insurance in your residence place. This permits you to seek assistance through your state insurance department if you have problems. The health insurance department website should have a list of authorized insurance companies; if not, a call to the agency will offer you with the information you need.

 Conclusion

So, these are the best 10 health insurance companies in India which one can consider before buying health insurance. The best health insurance companies usually offer some insurance in different conditions. We recommend choosing the best health insurance plan for you and your family (if you’re buying for your family, consider a floating family plan). So don’t wait for misery to happen. Compare your health insurance plans and choose the most appropriate plan from a reputable health insurance company to live as an insured person. It will really increase your knowledge in this sector.

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